FX Speculators reduced US Dollar net bullish positions for 11th out of last 12 weeks.

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators decreased their overall net bullish positions in the US dollar last week for a second straight week.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $6.59 billion as of Tuesday March 15th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of -$0.29 billion from the $6.88 billion total long position that was registered on March 8th, according to the Reuters calculation that totals the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.

Last week’s data shows that the US dollar speculative level has fallen lower for eleven out of the last twelve weeks with the streak starting all the way back on December 29th when net positions equaled $31.80 billion.

Weekly Speculator Contract Changes:

Weekly changes for the major currencies showed that large speculators increased their bets in favor of the British pound sterling, Swiss franc, Canadian dollar, New Zealand dollar and the Mexican Peso while decreasing weekly bets for the euro, Japanese yen and the Australian dollar.